Boston’s lofty Olympic dream could turn into a multibillion-dollar money pit rivaling the Big Dig, given the Games’ history of blown-out budgets and breathtaking but debt-ridden, oversized construction marvels — lessons both backers and critics say the Hub should heed before embracing a potential 2024 bid. “I don’t think it’s anything to be excited about economically. It’s something to be very careful about,” said Andrew Zimbalist, a Smith College economics professor and consultant on major sporting events worldwide. “Boston might generate $2 billion in revenue. They’re going to spend upwards of $15 billion in hosting the games. It’s very hard to imagine this thing paying off.” Proponents for a potential Boston bid say a pursuit of the Summer Games would kick-start long-needed transportation and housing prospects, benefits the city and state would continue to reap long after. But critics fear a project too big for the cramped Hub to handle and a Big Dig-sized bill littered with cost overruns. more
